Procter & Gamble Raising Prices on 25% of Products Citing Trump Tariffs

Procter & Gamble, the company behind brands such as Tide, Charmin, and Pampers, has announced it will raise prices on about 25% of its products, citing the financial impact of tariffs.

The company said during its Tuesday earnings call that tariffs will cost P&G an estimated $1 billion, a larger hit than previously projected in June. In response, new price increases will take effect next month.

P&G first warned in April that tariffs could force them to raise prices. CEO Jon Moeller said the company faces several challenges affecting consumer spending, including “tariffs, inflation, interest rates, political and social divisiveness.”

Although roughly 90% of P&G’s products sold in the United States are made domestically, the company imports some raw materials, packaging, and finished goods from China. Those imports have been subject to additional costs because of tariffs.

In June, P&G also announced plans to cut about 6% of its workforce over two years as part of a broader restructuring strategy, which includes scaling back certain product lines in select markets.

Procter & Gamble joins other major companies, including Nike, Walmart, Best Buy, Ford, and Subaru, in raising prices due to the economic effects of tariffs.

Credit: CNN Newsource

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